Tuesday, September 30, 2008

$2.5 Billion - None for Us

Mayor Daley announced plans today to privatize Midway Airport in return for $2.521 billion from investors.

The private consortium that would take over includes Midway Investment and Development Co. LLC, Citi Infrastructure Investors, John Hancock Life Insurance Co. and YVR Airport Services Ltd., Daley said at a news conference.

The lease term would be 99 years, and, under state law, the city must use 99 percent of the lease's net proceeds for infracture [sic] projects around the city, Daley said.

99% for infrastructure? That leaves a mere $25 million to fill in Daley's $400 million budget hole, maybe shore up a certain underfunded pension that Huberman is trying to steal money from, and attempt to bribe god knows how many Olympic Board members.

Off Topic: Has anyone else heard of J-Fed reopening excessive force complaints and then requesting 30 days pending? One example is a Narcotics Officer, the same unit that lost a member while executing a search warrant. This beef is 3 yrs. old and made by a drug dealer. It claims excessive force and the complainant could be reached and never pushed the issue for 3 years and was suspended by investigators. J-Fed ordered the case re-opened and after an exhausted search the complainant was found and basically forced to pursue the complaint. The Narcotic officer was placed in call back and J-FED just gave him a 30 day suspension and is seeking his separation. A benefit is being held for this officer now. Anyone with similar stories please come forward. J-Fed is just here to fire as many p.o.'s as possible. Don't give this jag off the opportunity to give you 30/pending.

Again any Constitutional Lawyer, is this legal what Daley is Doing? I can see a lease while he is still in office but for 99 years? How about if the next Mayor wants the Skyway, meters, and Airport back to generate revenue for the city? What authority was given to Daley to work out a deal like this? Hell the only people that will see Midway as a city airport will be my grandchildren. Your legal thought are anxiously awaited.

All you jfed cheerleaders talking a few months ago how you lover boy fed hero was going to take down the mayor. Your all idiots. I like the fools who say "yea you were always a do nothing dog".Maybe but I was never anyones bitch, now go out there and bring me some activity. By the way I always tell my lawnboy he should be a worker and not a dogass, he just nods his head and grins. P.S. and anyone who dosent care about his pension and has childern , he is an irresponsible parent.

I COULD GIVE TWO FUCKS AS LONG AS THEY LET US MOVE OUT OF THE CITY!!! ILL LET THE BANK FORECLOSE ON MY HOUSE, DELCARE BANKRUPTCY (7 years isnt that long) AND GIVE THE SHITTY 8 HOURS A DAY THATS IT!!! HELL, LIFT RESIDENCY AND I PROMISE $2000 A DAY IN REVENUE!!! YEP, ILL EVEN PUT IT IN WRITING AND IF I FALL SHORT, FORCE ME TO MOVE BACK!!! HOW BOUT THEM APPLES!!!

I predict (and this isn't the sky is falling, the sky is falling talk) that after the revenue generated by the sale of these Chicago assets are wasted, blown and stolen and the city doesn't have the 100's of millions of dollars that these properties generated for the city yearly... Chicago will be facing bankruptcy.

Has any of these elected officials addressed what is going to replace the funds that these properties generated yearly for the city in the future?

This is like the drug addict bringing anything he owns to the pawn shop. It is going to get you your drugs for now... but you'll be broke shortly.

OT: ANYONE WHO IS EVEN THINKING OF DONATING TO ANY BENEFIT/FUNDRAISER/CASH HANDOUT TO ANY OF THE SOS CRIMINALS KNOW THIS... ALL OF THE FUNDS RECEIVED FROM AND SPENT BY THESE CRIMINALS ARE BEING TRACKED BY THE FBI! THE FEDS ARE BUILDING A CASE AGAINST THESE CLOWNS AND UNLESS YOU WANT TO BE DOWN OF A FEDERAL DOCUMENT (BEST CASE) OR INDICTMENT (WORST CASE) PLEASE FOR YOUR SAKE AND FOR THE SAKE OF YOUR FAMILY STAY THE FUCK AWAY FROM THIS!! REALLY, WHO KNOWS WHERE THIS MONEY WILL BE GOING BUT GOD FORBID IT GOES TO FINANCE SOME MORE ILLEGAL NONSENSE, YOU WILL BE ON THE HOOK!! SO CONSIDER TO BE WARNED!!! DO NOT DONATE!! SAVE IT FOR A GOOD CAUSE, NOT TO FINANCE A CRIMINAL OPERATION OR PERHAPS A "PAINT JOB!"

SCC, there is a line in this article that pretty much sums up why this is happening.

Chicago and most other large municipalities float debt the same way that companies do. Private debt markets in the U.S. have dried up, and very much so in the last few weeks. The LIBOR rate of private interest rates between banks hit a record yesterday because they are all afraid of even each other.

Anyway, municipal debt markets are at something like 8 or 9% now. To float 2 billion in bonds these days, Daley would have to pay 180 million per year in interest alone, plus principle.

So Chicago and lots of other places are trying out how else to get the kind of money its used to borrowing, since the credit markets are literally dead for all but the U.S. government.

Daley has run this City into the ground while he and all his friends got RICH.

Then he has the balls to stand there at the press conference and say that if he did not think outside the box and lease the Air Port, "there would be NO CITY in 5 or ten years".

Mr. Mayor, what you should have said is. If I had not stolen and pissed away hundreds of millions if not Billions of dollars of tax payers money, I would not have to sell the Air Port.

Highest TAXES in the country, yet the Democrats have managed to bankrupt Chicago, Cook County and the State of Illinois. But of course we all know it's the Republicans Fault.

It's just like Nancy Polusa's speach the other day on the Bail out plan. Her and the Democrats have been in control for the past two years. When they took control of the House and the Senate the economy was doing just fine and unemployment was still low.

Now that every thing has turned to shit she stands up there and blaims the Repulicans for the mess. And they want you to believe non of it is thier fault.

This county has become one big money grab and you and I are the ones who are goin to to pay for it!

It's all very simple. There are two reasons the mayor can do whatever he wants. (1) He has many groups in his pocket and the people keep voting for him. (2)The Feds are either not smart enough to catch him dirty or they too are corrupt. With both of the above he has no fear and can treat Chicago as though it's his personal property. The sad part is that Chicago will be the worst city in the country by the time he is gone.

Off topic.......K.M. from narcotics got his job back with full back pay today. HAHA F U KIRBY you hack. Hey Oshea, thanks for not testifing on K.M's behalf, your a real team player. This job is a fu@#ING joke. Welcome back K.M.

OT. Go online to cook county treasurer office and check the amount due for your second installment for 2007 real estate taxes. We were hit with a $750 a year increase because due to the changes in limits for the homeowner exemption amounts. I looked up many houses in my neighborhood and all went up an average of $500 a year!!!

I had dinner last week with a friend who's in construction and we all had a big discussion about the pros and cons of having the Olympics come here. He said they were DESPERATE for it, because it would mean six and seven day workweeks for several years for anyone who's in construction.

He remarked he figured all the connected construction firms were contributing heavily to the Olympic effort. Talk about self-interest. Who cares what this ultimately does to the city? Just rake in those INFRASTRUCTURE dollars that are so conveniently coming our way, via Midway's lease.

Donahue could care less if they hire anyone! Another fat cat with a "golden parachute" when he goes! The Trifecta, Nolan, Dineen, and soon Donahue! Oh no we can't let the Teamsters in! They will steal our pension fund! No,let Daley do that! Losers!

GOD FORBID IT GOES TO FINANCE SOME MORE ILLEGAL NONSENSE, YOU WILL BE ON THE HOOK!! SO CONSIDER TO BE WARNED!!! DO NOT DONATE!! SAVE IT FOR A GOOD CAUSE, NOT TO FINANCE A CRIMINAL OPERATION OR PERHAPS A "PAINT JOB!"

9/30/2008 04:10:00 PM

Thanks Captain obvious... who in their right FUCKING mind would donate to these creeps???

Just got home off early, 007 was rocking shootins, shots fired everywhere and no police! As far as the Midway deal, daley promised the money would be used to "shore up" our underfunded pension funds surprise the thief lied again1 Where is eddie burke former copper and "police supporter" he has become so quiet maybe marky mark and the funky bunch could call oily eddie and ask him to speak about funding our pensions! luberman wants to steal lots from our pension fund, and watch they will give it to him via the usual payoffs! When does the madness stop? Fuck daley and the 50 nothing but cowrads who do as "masta" daley says!

can anyone seriously explain how propert taxes went up so much??? I applied for and received my homeowners exemption yet my installment went up $700!!! Is that right? Did I miss something? When I bought the house I understood taxes were $1400 a year less than they are now (1 year ago) WHAT GIVES???

Anonymous said... Why aren't the African-American so called leaders (including Meeks, Jackson,Sharpton)holding press conferences condemning the shooting death of P.O. Taylor who gave up his life stopping the drug trafficing.

Because they profit not only from the drugs, but the violence as well. They use this as leverage to get their people hired and to get more money toward their bullshit social causes and agendas. Would you bite the hand that feeds you?

ladies and gentlemen...please look at the whole picture (with the backdrop that Daley's overarching pasion is to get the Olympics); everything else (city finances, contracts, budgets, pensions, staffing for police, fire, streets, etc., takes a backseat; in other words, NOTHING other than the Olympics matters, NOTHING....and there isn't one politician anywhere that can do anything about it...

"It's just like Nancy Polusa's speach the other day on the Bail out plan. Her and the Democrats have been in control for the past two years. When they took control of the House and the Senate the economy was doing just fine and unemployment was still low.

Now that every thing has turned to shit she stands up there and blaims the Repulicans for the mess. And they want you to believe non of it is thier fault.

This county has become one big money grab and you and I are the ones who are goin to to pay for it!

Yes, vote for OBAMA so he and his can get thier cut!

9/30/2008 04:57:00 PM"

You seem to have conveniently forgotten, or omitted, the Bush Republican's expensive decision to invade Iraq, effectively abandoning the mission in Afganistan, thus costing THOUSANDS of US soldier's lives and BILLIONS of taxpayers' dollars, in your attempt to skew the blame onto the Democrats.

Buddy, BOTH the Democrats and the Republicans are to blame for the insane decisions that BOTH parties' members have made over the past 20+ years.

And, truth be told, we, the people, have to bear ALL of the blame for forgetting what a strong Democracy depends upon, namely, a strong, intelligent, honest and moral citizenry.

Chicago, Cook County and the State of Illinois are merely an example of the failures of their citizens to value their Democracy, and, thus, their Freedoms and Rights, above all else.

OT: ANYONE WHO IS EVEN THINKING OF DONATING TO ANY BENEFIT/FUNDRAISER/CASH HANDOUT TO ANY OF THE SOS CRIMINALS KNOW THIS... ALL OF THE FUNDS RECEIVED FROM AND SPENT BY THESE CRIMINALS ARE BEING TRACKED BY THE FBI! THE FEDS ARE BUILDING A CASE AGAINST THESE CLOWNS AND UNLESS YOU WANT TO BE DOWN OF A FEDERAL DOCUMENT (BEST CASE) OR INDICTMENT (WORST CASE) PLEASE FOR YOUR SAKE AND FOR THE SAKE OF YOUR FAMILY STAY THE FUCK AWAY FROM THIS!! REALLY, WHO KNOWS WHERE THIS MONEY WILL BE GOING BUT GOD FORBID IT GOES TO FINANCE SOME MORE ILLEGAL NONSENSE, YOU WILL BE ON THE HOOK!! SO CONSIDER TO BE WARNED!!! DO NOT DONATE!! SAVE IT FOR A GOOD CAUSE, NOT TO FINANCE A CRIMINAL OPERATION OR PERHAPS A "PAINT JOB!"

"can anyone seriously explain how propert taxes went up so much??? I applied for and received my homeowners exemption yet my installment went up $700!!! Is that right? Did I miss something? When I bought the house I understood taxes were $1400 a year less than they are now (1 year ago) WHAT GIVES???

9/30/2008 11:04:00 PM"

Simple answer:

Property taxes are based on the 'fair market' value of your real property, and are reassessed every 3 years.

When your property's value increases, your assessed value increases and, thus, so does your 'share' of the total tax amount 'needed' by those government agencies which are financed by property taxes.

Now, if the total amount of taxes needed to finance these governmental agencies were to decrease, your property taxes wouldn't increase, but, instead, decrease, unless the assessed values of other property owners' properties were to decrease more than your's increased, thus reducing their share of the property tax burden more than the decrease in total taxes required.

Of course, no one living has ever seen the total tax required decrease.

Also, the unfettered use of TIF'S skims off the top of the total property tax revenues, reducing the actual amount of all property tax revenues available for their intended use.

The Chicago reader's Ben Joravsky has been attempting to educate the citizens of this city and county on the subjects of TIF'S and the 'fair market' assessed value property tax system for nigh on a decade now.

You will not have a pension if you retire after 2025.----------------------------welcome to the club. where do you think the money to fund social security will come from? or medicare? or any of the other things people have been paying into over the years with the expectation they will get something out of it down the road.

There is his way around getting that olympic money. And think of all of that money going to connected businesses to do shitty jobs. Seems like a great deal for everyone BUT the citizens of Chicago. When will they stop voting for Daley and family?

tax help said... can anyone seriously explain how propert taxes went up so much??? I applied for and received my homeowners exemption yet my installment went up $700!!! Is that right? Did I miss something? When I bought the house I understood taxes were $1400 a year less than they are now (1 year ago) WHAT GIVES???

9/30/2008 11:04:00 PM

It takes a couple of years to catch up, when you buy a home the taxes are based on the price paid, not what the previous owner paid!

29 yeras and a day said... Anonymous said... Why aren't the African-American so called leaders (including Meeks, Jackson,Sharpton)holding press conferences condemning the shooting death of P.O. Taylor who gave up his life stopping the drug trafficing.

Because they profit not only from the drugs, but the violence as well. They use this as leverage to get their people hired and to get more money toward their bullshit social causes and agendas. Would you bite the hand that feeds you?

9/30/2008 08:13:00 PM

EXCELLENT POINT

9/30/2008 11:32:00 PM

Your right nothing in it for them! meeks is a gang-banging punk with his fake church and daley kisses his ass as daley is scared of meeks jackson and that cowardly bunch!

And the Alderman want a 6% raise, WTF??? How about making another stupid city ordinance like texting on your phone while walking. Are you fucking kidding me??? Kiss my white ass! Mr. Mayor you will not get the 2016 Olympics quit waisting your time and spending our tax money!

Please dont take this the wrong way, I am not siding with the mayor, but if we receive 2.5 Billion for infrastructure, won't that free tax money that was earmarked for infrastructure to other needed areas? Raises, schools, etc..